Tata Metaliks shares hit 52-week high post stellar Q2 earnings; check details

Shares of Tata Metaliks Ltd, a subsidiary of Tata Steel, zoomed to a fresh 52 week high after the Tata Group firm reported an over three-fold jump in net profit for the September 2023 quarter. Profit rose to Rs 44.16 crore for the quarter ended September 30, 2023, led by a fall in expenses. 

The firm reported a Rs 14.29 crore net profit in July-September period a year ago.  

Tata Metaliks stock surged 5.62% to Rs 1003.45 against the previous close of Rs 950.05 on BSE. Market cap of the firm stood at Rs 3030 crore. Later, the stock closed 1.02% higher at Rs 959.75.  Tata Metaliks stock has gained 33.28 per cent in a year and risen 14.15 per cent in 2023.  

Tata Metaliks stock fell to a 52-week low of Rs 707.50 on December 26,2022.  

Total 0.57 lakh shares of the firm changed hands amounting to a turnover of Rs 5.55 crore on BSE. Tata Metaliks stock has a one-year beta of 1.1, indicating high volatility during the period. 

In terms of technicals, the relative strength index (RSI) of Tata Metaliks stands at 53.7, signaling it's trading neither in the overbought zone nor in the oversold zone. Tata Metaliks shares are trading higher than 5 day, 10 day, 20 day 30 day, 50 day, 100 day and 200 day moving averages.  

 However, total income fell to Rs 758.05 crore in Q2 from Rs 881.77 crore in the year-ago quarter. Expenses declined to Rs 696.41 crore in the last quarter from Rs 861.64 crore in July-September 2022-23. The company’s EBITDA came in at Rs 90.1 crore and EBITDA margin stood at 11.9 per cent 

Tata Metaliks Limited is engaged in the manufacture of foundry grade pig iron. The company offers a range of end-to-end technical services, which include charge mix and melting, molding and core making, spheroidal graphite (SG) iron production and development, project based consultancy, pollution control, customized training and testing facility.  

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